Best CD Rates in South Carolina

South Carolina holds a rich history, vibrant culture, and economic diversity. It offers a unique landscape not only for tourists and residents but also for investors who are looking to grow their wealth.

In South California, the quest for the most attractive CD rates can lead you to financial institutions ranging from local credit unions to large banks. This journey promises not only security and peace of mind but also the excitement of optimizing your savings strategy in one of the most beautiful states in the Southeast.

Let’s embark on this adventure to discover where the best CD rates in South Carolina are hidden, ensuring your investments flourish in this enchanting region.

Overall Best CD rates in South Carolina

No.	Name of the Bank	APY %	Term Length	Address
1	Founders Federal Credit Union	5.61%	12-month	149 Columbiana Dr Columbia, SC 29212
2	ArrowPointe Federal Credit Union	5.50%	12-month	316 Old Pointe School Rd Rock Hill, SC 29732
3	Anderson Federal Credit Union	5.35%	12-month	2116 N Highway 81 Anderson, SC 29621
4	SC Telco Federal Credit Union	5.35%	12-month	117 Batesville R Simpsonville, SC 29681
5	CoastalStates Bank	5.25%	12-month	7 Thurmond Way Bluffton, SC 29910
6	Houston Federal Credit Union	5.15%	12-month	100 Fluor Daniel Dr # C102U Greenville, SC 29607
7	Bank of the Ozarks	5.12%	12-month	3 Clark Summit Dr Bluffton, SC 29910
8	Navy Federal Credit Union	5.05%	12-month	119 Plantation North Blvd Goose Creek, SC 29445
9	First Federal of South Carolina, FSB (MHC)	5.00%	12-month	428 Hwy 174 Edisto Island, SC 29438
10	PenFed Credit Union	4.50%	12-month	Online
11	PenFed Credit Union	4.30%	18-month	Online
12	CPM Federal Credit Union	4.06%	12-month	307 Harrison Bridge Rd Simpsonville, SC 29680
13	Vital Federal Credit Union	4.05%	12-month	1000 Asheville Hwy, Spartanburg, SC 29303
14	Carolina Trust Federal Credit Union	4.04%	24-month	1010 21st Ave N, Myrtle Beach, SC 29577
15	Carolina Foothills Federal Credit Union	4.04%	48-month	520 N Church St, Spartanburg, SC 29303
16	Greenville Federal Credit Union	4.01%	36-month	1501 Wade Hampton Blvd, Greenville, SC 29609
17	Conway National Bank	4.00%	12-month	2380 Hwy 9 E PO Box 1129 Longs, SC 29568
18	The Bank of South Carolina	4.00%	18-month	256 Meeting St, Charleston, SC 29401
19	South Atlantic Bank	4.00%	36-month	630 29th Ave N, Myrtle Beach, SC 29577
20	South Carolina Federal Credit Union	4.00%	12-month	6265 Rivers Ave, North Charleston, SC 29406
21	SPC Credit Union	4.00%	48-month	204 N 5th St, Hartsville, SC 29550
22	Upstate Federal Credit Union	4.00%	12-month	1303 Anderson St, Belton, SC 29627
23	Spartan Federal Credit Union	4.00%	3-month	930 Charisma Dr, Spartanburg, SC 29303
24	Palmetto Citizens Federal Credit Union	3.93%	18-month	1320 Washington St, Columbia, SC 29201
25	Anderson Federal Credit Union	3.93%	24-month	Online
26	Woodruff Federal Savings and Loan Association	3.90%	12-month	247 N Main St PO Box 579 Woodruff, SC 29388
27	Coastal Carolina National Bank	3.89%	6-month	1012 38th Ave N, Myrtle Beach, SC 29577
28	ArrowPointe Federal Credit Union	3.89%	36-month	462 Anderson Rd S, Rock Hill, SC 29730
29	Vital Federal Credit Union	3.80%	12-month	1000 Asheville Hwy PO Box 8649 Spartanburg, SC 29303
30	Greenville Federal Credit Union	3.70%	12-month	3375 Pelham Rd Greenville, SC 29615
31	SAFE Federal Credit Union	3.68%	24-month	160 W Wesmark Blvd, Sumter, SC 29150
32	My Healthcare Federal Credit Union	3.68%	18-month	4720 NW 39th Ave, Gainesville, FL 32606
33	Conway National Bank	3.35%	18-month	2380 Hwy 9 E PO Box 1129 Longs, SC 29568
34	Carolina Trust Federal Credit Union	3.30%	18-month	4254 Holmestown Rd PO Box 31588 Myrtle Beach, SC 29588
35	Ameris Bank	3.25%	12-month	301 N Main St The Landmark Bldg Greenville, SC 29601
36	Southern First Bank	3.25%	12-month	105 Front St Summerville, SC 29486
37	Anderson Brothers Bank	3.05%	18-month	71 Cloverleaf Dr Longs, SC 29568
38	Bank of Greeleyville	3.00%	12-month	209 Martin Luther King Ave Kingstree, SC 29556
39	Mutual Savings Bank	3.00%	12-month	330 W Carolina Ave Hartsville, SC 29550
40	Santee Cooper Credit Union	3.00%	18-month	1232 Farrow Pkwy Myrtle Beach, SC 29577
41	GrandSouth Bank	3.00%	24-month	381 Halton Rd, Greenville, SC 29607
42	Founders Federal Credit Union	3.00%	18-month	737 Plantation Rd, Lancaster, SC 29720
43	AllSouth Federal Credit Union	3.00%	24-month	730 Elmwood Ave, Columbia, SC 29201
44	Heritage Trust Federal Credit Union	3.00%	12-month	847 Coleman Blvd, Mount Pleasant, SC 29464
45	Fort Jackson Federal Credit Union	3.00%	36-month	Online
46	Latitude 32 Credit Union	3.00%	18-month	1845 Sam Rittenberg Blvd, Charleston, SC 29407
47	Greenwood Credit Union	3.00%	24-month	617 Main St S, Greenwood, SC 29646
48	Anderson Brothers Bank	2.95%	12-month	2711 Agnes Ln Myrtle Beach, SC 29577
49	Bank of North Carolina	2.65%	18-month	710 Hwy 17 N North Myrtle Beach, SC 29582
50	Sharonview Federal Credit Union	2.45%	12-month	1081 Red Ventures Dr, Fort Mill, SC 29707
51	MTC Federal Credit Union	2.45%	24-month	124 Verdae Blvd #100, Greenville, SC 29607
52	South State Bank	2.10%	18-month	2005C Oakheart Rd Myrtle Beach, SC 29579
53	Southern First Bank	2.00%	6-month	100 Verdae Blvd #100, Greenville, SC 29607
54	Peach State Federal Credit Union	2.00%	24-month	Online
55	Patriot Federal Credit Union	1.98%	24-month	800 Wayne Ave, Chambersburg, PA 17201
56	CresCom Bank	1.79%	18-month	4506 Highway 707 Myrtle Beach, SC 29588
57	Coastal Carolina National Bank	1.73%	18-month	1100 Highway 17 N North Myrtle Beach, SC 29582
58	VistaBank	1.73%	18-month	1106 3rd Ave Conway, SC 29526
59	Horry County State Bank	1.59%	18-month	4600 Hwy 17 Byp S Myrtle Beach, SC 29588
60	Sandhills Bank	1.59%	18-month	1020 Hwy 17 N North Myrtle Beach, SC 29582
61	Anderson Brothers Bank	1.38%	36-month	101 N Main St, Mullins, SC 29574
62	SC Telco Federal Credit Union	1.38%	3-month	800 Brushy Creek Rd, Easley, SC 29642
63	Greer State Bank	1.07%	24-month	Online

Current CD Rates of South Carolina

Current CD rates in South Carolina are crucial for savers and investors, as they determine the potential return on CDs, which are popular for being low-risk investment options.

By offering a guaranteed return over a specified period, CDs in South Carolina provide a stable and predictable way for individuals to grow their savings, making them an essential component of a diversified investment portfolio or a conservative savings plan.

Best 6 Month CD Rates

6-month CD rates in South Carolina stand as beacons for those seeking a quick return without compromising on security.

1.  Bask Bank

Minimum Amount: $1000.00

APY / Rate: 4.45% APY

Pros:

• FDIC approved Bank
• Terms available from 6-24 months
• Top-tier APY rate with secured return guaranteed
• Customer-friendly terms

Rules:

• New customers have to open an account with the bank before investing in Bask Bank’s CDs.
• CDs can be opened at the bank as well as online
• The minimum deposit amount of $1000 must be deposited to the account within 10 days of account opening
• Early withdrawal is subject to a penalty.
• Investors can withdraw the interest credited to the account without any penalty.
• There is a 10 days grace period after maturity to make additional deposits to the CD.

2. First Internet Bank of Indiana

Minimum Amount: $1000

APY Rate: 4.39%

Pros:

• Online only banking experience
• High interest rates
• Low minimum deposit

Rules:

• Interest is compounded every month and added to the account at month’s end
• Early withdrawal are exposed to penalty

Best 1 Year CD Rates

As investors extend their horizon to a year, 1-year CD rates in South Carolina offer a harmonious blend of higher returns and safety.

1. North American Savings Bank

Minimum Amount: $5000.00

APY / Rate: 4.86% APY

Pros:

• Reputed Bank in the region
• High APY on CDs
• eBook, “Everything You Need To Know About Certificate of Deposit Accounts” available
• No limit on beneficiaries
• FDIC insured.

Rules:

• Minimum balance must be maintained
• Early withdrawal penalty equalling 6 months interest
• 7 days grace period before CD gets auto renewed
• Terms range from 3 months to 5 years.

2. Popular Direct

Minimum Amount: $1000.00

APY / Rate: 4.39% APY

Pros:

• Highly competitive rates for 6-month CDs
• 24/7 access to the bank account
• No hidden fees or charges
• Customer support for all sorts of queries and concerns
• FDIC insured bank up to maximum

Rules:

• APY can be earned assuming the interest and the principal remains on deposit until maturity.
• Interest is compounded monthly and added to the account at the end of the month.

Best 3 Year CD Rates

The search for the best 3-year CD rates in South Carolina takes savers on a journey towards more substantial returns. Investors leaning towards this term are often motivated by the prospect of earning higher interest rates.

1.  Alliant Credit Union

Minimum Amount: $1000.00

APY / Rate: 4.60% APY

Pros:

• Funds are insured up to $250,000 by NCUA
• Low minimum deposit of only $1,000; no maximum
• Great dividend rates

Rules:

• Dividends compounded every month and at maturity.
• Incur an early withdrawal penalty

2. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.50% APY

Pros:

• Excellent for earning a competitive interest rate on a savings account or CD.
• Without monthly services.
• Free domestic incoming wire transfers on savings account

Rules:

• APYs are subject to change at any time without notice
• The penalty will be applied for early withdrawals on CDs
• At maturity, your CD will automatically renew and earn the base interest rate

Best 5 Year CD Rates

For long-term investors, the best 5-year CD rates in South Carolina lock away the funds for an extended period, in exchange for the highest interest rates.

1. Popular Direct

Minimum Amount: $10000.00

APY / Rate: 4.55% APY

Pros:

• Highly competitive rates for 6-month CDs
• 24/7 access to the bank account
• No hidden fees or charges
• Customer support for all sorts of queries and concerns
• FDIC insured bank up to maximum

Rules:

• APY can be earned assuming the interest and the principal remains on deposit until maturity.
• Interest is compounded monthly and added to the account at the end of the month.
• Early withdrawal fetches a penalty and there is a grace period after maturity to add additional funds to the CD

2. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Competitive CD rates
• Decent minimum balance requirement
• Easy CD withdrawal methods
• 3-months to 60-month term available

Rules:

• A CD can be opened via mobile, online,, or telephone.
• The interest on the CD is compounded monthly and added to the account on a fixed date every month.
• There is a penalty for early withdrawal which depends on the term and amount of the CD.
• Any changes to the CD regarding the amount or term can be made within the grace period of penalty days post maturity.

Economic Statistics for South California

Economic statistics play a pivotal role in shaping investment strategies. It includes the decision to invest in CDs in South Carolina. South Carolina boasts a diverse and growing economy that offers a fertile ground for financial growth opportunities.

• With a median household income hovering around $85,300, savers and investors are positioned in a moderately favorable economic situation to allocate funds towards CDs for financial security and growth​​.
• The housing market also plays a significant role in the economic landscape, with the average home value in South Carolina estimated at approximately $223,400. This figure indicates a relatively affordable housing market compared to national averages, potentially leaving more room for households to invest in savings instruments like CDs​​.
• With a population nearing 5.3 million people, South Carolina’s demographic dynamics contribute to the demand for various financial products, including CDs. The population size and growth trends are indicative of the state’s economic vitality and the potential market for financial institutions offering competitive CD rates​

Economic Indicator	Value
Average Income	$85,300
Average Home Value	$223,400
Population	~5.3 million

How to Get Best CD Rates in South Carolina

Securing the best CD rates in South Carolina involves a strategic approach, combining diligent research with an understanding of your financial goals and market trends.

• Start by comparing rates from a wide range of financial institutions, including both large.
• Consider factors such as the minimum deposit requirements, early withdrawal penalties, and the financial stability of the institution.
• It is also essential to stay informed about the overall economic environment, as interest rates can fluctuate based on federal policies and economic conditions.
• Apart from all these, engaging in online forums, financial news, and using rate comparison tools can also provide valuable insights and help you lock in the most competitive rates.

CD Rates Methodology

Our methodology for identifying the best CD rates in South Carolina involved a comprehensive review of 98 banks and credit unions.

This extensive survey encompassed a variety of financial institutions, from large, nationally recognized banks to smaller, local credit unions known for their customer-centric services.

To ensure a thorough evaluation, we considered factors such as interest rates, term lengths, minimum deposit requirements, and the flexibility of terms.

Out of the 98 institutions reviewed, 63 made the list, chosen for their competitive rates, favorable terms, and overall value to savers and investors. This selection process underscores our commitment to providing a broad yet discerning overview of the best CD investment opportunities across the state.

Conclusion

The pursuit of the best CD rates in South Carolina is a testament to the savvy investor’s quest for financial growth and security. Whether you’re a beginner investor looking for stability or an opportunistic investor aiming for the highest possible returns, the key lies in thorough research, strategic planning, and a keen understanding of the market dynamics. 

With the right approach, securing the best CD rates in South Carolina can be a rewarding component of your overall financial strategy.

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